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Property profile & analytics
FOR SALE
Manufacturing properties
975 Kelly Rd Cumberland, MD 21502
Entity Owned
4-yr Hold
Free & Clear
Property ID
US40-0609490
For Sale
1 / 32
$36,000,000
975 Kelly Rd, Cumberland, MD 21502
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Property summary
AI-generated overview
This exceptional industrial property, located at 975 Kelly Rd, Cumberland, MD 21502, presents a unique sale-leaseback opportunity. The 208,645-square-foot facility sits on a 15-acre lot and is currently 100% occupied by Grow West, a leading cannabis operator, under a 20-year absolute NNN lease with six 5-year renewal options. The lease commenced October 3, 2022, and includes a 10% rent increase after the first 10 years. The property boasts 13 loading docks and is classified as Class B. Built in 1960 and renovated in 2016, the single-story building is zoned IG. The asking price is $36,000,000, representing a price per square foot of $172.54 and a current NOI of $1,800,000, with a pro-forma NOI of $2,700,000 and a 7.5% cap rate. The tenant is backed by a corporate guarantee, making this a secure investment. This offering is structured for a 1031 exchange. The property's location in Allegany County offers potential future benefits. This is a rare opportunity to acquire a high-quality industrial asset with a long-term lease to a strong, creditworthy tenant in a growing market.
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
2022
Total area
52,402 SF
Lot
5.18 ac (225,641 SF)
APN
06-104826
UPID
US40-0609490
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Penn-Mar Recycling (check in office) Auto Parts Store Waste Management Facility
-
GW Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.89M
Blend (final)
Blend
$5.00M
Owner & transaction history
Penn Mar Recycling LLC · 4 yrs held
Penn Mar Recycling LLC
since 2022
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$7.6M
+160.1%
Commercial (general)
$7.6M
+159.4%
Auto repair, garage
$6.1M
+109.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Cumberland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cumberland submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$7,640,000
Change: +160% · Conversion: Moderate
COMMERCIAL (GENERAL)
$7,615,000
Change: +159% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,135,000
Change: +109% · Conversion: Easy
RESTAURANT
$6,100,000
Change: +108% · Conversion: Difficult
MEDICAL BUILDING
$5,970,000
Change: +103% · Conversion: Difficult
OFFICE BUILDING
$5,775,000
Change: +97% · Conversion: Difficult
WAREHOUSE, STORAGE
$4,300,000
Change: +46% · Conversion: Easy
Blend value · Realmo final
$5.00M
Range $4.50M – $5.50M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$95 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$39,788
Tax year 2023
Assessed value
$4,210,300
Assessed 2024
Previous assessed
$4,276,900
-1.6% YoY
Effective rate
0.95%
On assessed value
Assessed land
$233,800
Assessed improvement
$3,976,500
Land market value
$233,800
Improvement market value
$3,976,500
Total market value
$4,210,300
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
For Sale
Year built
2022
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
52,402 SF
Lot
5.18 ac (225,641 SF)
APN
06-104826
UPID
US40-0609490
Jurisdiction
ALLEGANY
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$7.6M
COMMERCIAL (GENERAL)
Est. value
$7.6M
AUTO REPAIR, GARAGE
Est. value
$6.1M
RESTAURANT
Est. value
$6.1M
MEDICAL BUILDING
Est. value
$6.0M
OFFICE BUILDING
Est. value
$5.8M
WAREHOUSE, STORAGE
Est. value
$4.3M
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RESTAURANT
MEDICAL BUILDING
OFFICE BUILDING
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2022
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
5.18 ac
Current owner
From public records · entity-resolved
Penn Mar Recycling LLC
Entity
Free & Clear · 4 yrs held
Mailing address
975 KELLY RD, CUMBERLAND, MD 21502-3435
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 3, 2022
—
Northbranch Properties LLC
—
Deed
related
$6,303,697 · Fg Agency Lending LLC
Mar 9, 2022
$413,305
Penn Mar Recycling LLC
Board Of Commissioners Of Allegany
Deed
—
Mar 1, 2022
—
Northbranch Properties LLC
Mayor And City Council Of Cumberlan
Quit Claim Deed
related
—
Apr 15, 2021
$383,583
Northbranch Properties LLC
Board Of Cnty Commissioners Of Alle
Deed
$223,375 · Board Of Commissioners For Allegany
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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